Credit Union Of Ohio Mortgage Rates, Fees & Info
Hilliard, OHLEI: 549300WYRD3CZ6KH1N11
Tax ID: 31-0733646
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Mortgage Data
Review & Overview
Credit Union Of Ohio is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Credit Union Of Ohio has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Toledo, Urbana, Marion, and Lima among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Credit Union Of Ohio has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union Of Ohio is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.15% | 11/23/24 |
| 30 Year Conventional Refi | 6.98% | 11/23/24 |
| 30 Year Cash-out Refi | 6.84% | 11/23/24 |
| 15 Year Conventional Purchase | 6.35% | 11/23/24 |
| 15 Year Conventional Refi | 5.92% | 11/23/24 |
| 15 Year Cash-out Refi | 5.92% | 11/23/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Credit Union Of Ohio Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
101Origination Dollar Volume (All Markets)
$12,215,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 82 | $10,280,000 | $125,366 | $3,099 | 3.06% |
| TOLEDO, OH (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $3,328 | 3.16% |
| Urbana, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,442 | 3.50% |
| Marion, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,021 | 3.00% |
| LIMA, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,154 | 2.38% |
| Jackson, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,772 | 2.88% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $3,112 | 3.50% |
| AKRON, OH (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $2,880 | 2.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,977 | 2.63% |
| MANSFIELD, OH (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $2,765 | 2.50% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,543 | 2.88% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,669 | 3.38% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Washington Court House, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Chillicothe, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 101 | $12,215,000 | $120,941 | $3,103 | 3.04% |
For 2020, Credit Union Of Ohio's most frequently originated type of loan was Conventional, with 101 originations.
Loan Reason
For 2020, Credit Union Of Ohio's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 22 originations.
Loan Duration/Length
For 2020, Credit Union Of Ohio's most frequently cited loan duration was 15 Year, with 30 originations. The 2nd most popular length was Other, with 26 originations.
Origination Fees/Closing Costs
Credit Union Of Ohio's average total fees were $3,435, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 70 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 28 | $3,920,000 | $140,000 |
| 3-4% | 28 | $4,530,000 | $161,786 |
| <2.5% | 16 | $2,290,000 | $143,125 |
| 4-5% | 3 | $605,000 | $201,667 |
During 2020, Credit Union Of Ohio's average interest rate for loans was 3.55%, while their most frequently originated rate bucket for loans was 2.5-3%, with 28 originations.
Loan Sizing
2020 saw Credit Union Of Ohio place emphasis on $100k-200k loans with 45 originations, totaling $6,625,000 in origination value.
Applicant Income
Credit Union Of Ohio lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $50k-75k, with 27 originations.
Applicant Debt to Income Ratio
Credit Union Of Ohio lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications69.95%
Credit Union Of Ohio has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination60.40%
Credit Union Of Ohio has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 101 | $12,215,000 | $120,941 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $75,000 | $75,000 |
| Single Family (1-4 Units):Site-Built | 100 | $12,140,000 | $121,400 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Credit Plus Inc | Conventional home mortgage | Improper use of your report | 1 | 50.0% |
| Credit Plus Inc | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |